ECOWAS: Market for Marble And Travertine Blocks And Slabs 2024

Market Size for Marble And Travertine Blocks And Slabs in ECOWAS

The ECOWAS marble and travertine blocks market was estimated at $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption recorded a abrupt setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Marble And Travertine Blocks And Slabs in ECOWAS

In value terms, marble and travertine blocks production stood at $X in 2022 estimated in export price. Over the period under review, production saw a deep contraction. The pace of growth was the most pronounced in 2014 when the production volume increased by 12% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Marble And Travertine Blocks And Slabs

Exports in ECOWAS

In 2022, the amount of marble and travertine blocks and slabs exported in ECOWAS fell rapidly to X tons, declining by -20.6% against 2021 figures. Overall, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 1,333%. As a result, the exports reached the peak of X tons, and then dropped sharply in the following year.

In value terms, marble and travertine blocks exports shrank to $X in 2022. Over the period under review, exports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2019 when exports increased by 302% against the previous year. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Nigeria dominates exports structure, reaching X tons, which was near 92% of total exports in 2022. It was distantly followed by Liberia (X tons), comprising a 5.4% share of total exports. Togo (X tons) followed a long way behind the leaders.

Exports from Nigeria decreased at an average annual rate of -22.6% from 2012 to 2022. At the same time, Liberia (+19.4%) and Togo (+1.3%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +19.4% from 2012-2022. Nigeria (+92 p.p.) significantly strengthened its position in terms of the total exports, while Liberia and Togo saw its share reduced by -15.8% and -32% from 2012 to 2022, respectively.

In value terms, the largest marble and travertine blocks supplying countries in ECOWAS were Nigeria ($X), Liberia ($X) and Togo ($X), together comprising 100% of total exports.

In terms of the main exporting countries, Liberia, with a CAGR of +10.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, rising by 18% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. The growth pace was the most rapid in 2019 when the export price increased by 117%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Liberia ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+13.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Marble And Travertine Blocks And Slabs

Imports in ECOWAS

Marble and travertine blocks imports dropped significantly to X tons in 2022, reducing by -30.1% on 2021. In general, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 140% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, marble and travertine blocks imports contracted remarkably to $X in 2022. Over the period under review, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 123%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Cote d'Ivoire (X tons) and Senegal (X tons) represented roughly 65% of total imports in 2022. It was distantly followed by Nigeria (X tons), Cabo Verde (X tons) and Ghana (X tons), together generating a 26% share of total imports. The following importers - Mali (X tons) and Togo (X tons) - each accounted for a 4.2% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cabo Verde (with a CAGR of +19.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X) were the countries with the highest levels of imports in 2022, with a combined 76% share of total imports. Mali, Ghana, Cabo Verde and Togo lagged somewhat behind, together comprising a further 19%.

Cabo Verde, with a CAGR of +19.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the import price recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 17% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+7.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform